Bankruptcy

Interim CEO of GM Starts With a Bang

By mcbride

In a move which is sure to add credence to the rumor that he wants the job on a permanent basis, interim CEO of General Motors, who started just days ago, has announced a management restructuring and realignment.  These steps will be greeted with favor for ?watchers? of the company since it looks like ?action? and people generally think that any ?action? is good for a company in painful financial condition. 

?Chairman Ed Whitacre drew up the new management blueprint in four hours, reflecting an agility that has not been common for the 101-year old company, The Wall Street Journal initially reported, citing an unnamed source.  Whitacre, who is serving as interim CEO, showed Henderson the door earlier this week after about eight months on the job. The recent batch of moves included no major firings.?

Here is a link: http://www.marketwatch.com/story/latest-gm-head-to-revise-management-report-2009-12-04

Michael

Full post as published by Texas Lawyer Blog on December 04, 2009 (boomark / email).